Property and Stock Agents Regulation 2022
16Keeping Bidders Records—the Act, ss 68 and 104
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16 Keeping Bidders Records—the Act, ss 68 and 104
16 Keeping Bidders Records—the Act, ss 68 and 104
(1) A licensee who acts on the sale of property by auction must make and keep as part of the records the licensee is required to make by the Act, section 104, a record of the following in relation to the licensee who made the Bidders Record for the auction—
(a) the name of the licensee,
(b) the business address of the licensee,
(c) licence number of the licensee.
(2) If a licensee keeps a Bidders Record in electronic form, the licensee must also keep, as part of the licensee’s records about the auction sales to which the Bidders Record relates, a record of details to enable the Bidders Record to be located and accessed in the licensee’s electronic records.